Bank Stocks Are Having a Big Day
Bank profitability poised to increase.
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A shift in the yield curve is helping to fuel a big rally in bank stocks on Wednesday.
The KBW Bank Index, composed of national money center as well as regional banks, was up as much as 3 percent on the day as of 11:48 a.m. New York time, as longer-term U.S. Treasury yields rose by more than the yield on shorter-term debt.